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Futures

Meats Futures Prices

Fri, Dec 9th, 2016
[[ timeframe ]] futures price quotes as of Fri, Dec 9th, 2016.
[[ timeframe ]] futures price quotes, based on [[ timeframe ]] data.

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Lean hogs ended Friday higher in the front two contracts, but April 17 lost 40 cents; it is still $4.50 higher than Feb 17. Dec16 hogs posted a $5.975 gain on the week. The CME Lean Hog Index for 12/7 was up $1.22 at $53.17. USDA's weighted average pork carcass cutout value was 7 cents lower on Friday, at $75.81; up nearly 3.5% vs. a week earlier. The USDA national average base hog price slipped 78 cents lower to $52.66 with a range from $46 to $54.50 reported. USDA trimmed estimated full year US pork production for 2016 by 30 million pounds this morning. They left 2017 UNCH at 25.8 billion pounds, which would still be up about 3.6% from this year. WTD slaughter (including Saturday estimates) ran 92,000 head smaller than last week, but still 13,000 head larger than the same week a year ago. According to the weekly CFTC report published on Friday, managed money spec accounts were a net 3,685 contracts less-long at Tuesday's close than they were a week earlier. Dec 16 Hogs settled at $56.725, up $1.050, Feb 17 Hogs settled at $61.550, up $0.725 Apr 17 Hogs settled at $65.950, down $0.400
Live cattle futures ended Friday with losses mostly from 12.5 to 32.5 cents after coming back from triple digit losses around mid-session. Dec16 cattle ended the week 50 cents higher. Feeders lost about 65 cents in most contacts on Friday, but January futures were up $1.35 on the week. The CME Feeder Index for 12/8 was $130.65, a 42 cent loss. Average wholesale beef prices reported by USDA were mixed in the Friday afternoon report with choice down 54 cents and select up 26 cents at $188.94 and $171.68 respectively. Cash cattle traded fairly actively at $110 in the south this morning, with $170 indicated in the north. The latter would be down $5 from last week. This morning USDA hiked projected 2016 US beef production another 85 million pounds, but trimmed their 2017 outlook by 220 million. Their average steer price estimate for 2017 is $107, vs. $120.56 this year. According to the CFTC, managed money accounts had collectively increased their net long in cattle futures and options by 4,901 contracts during the week ending Tuesday December 6. Dec 16 Cattle settled at $108.725, down $0.325, Feb 17 Cattle settled at $110.525, down $0.125, Apr 17 Cattle settled at $110.250, down $0.175, Jan 17 Feeder Cattle settled at $125.950, down $0.650 Mar 17 Feeder Cattle settled at $122.500, down $0.650 Apr 17 Feeder Cattle settled at $122.050, down $0.675
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